Back-alley Banking

Kellee S. Tsai draws upon her unparalleled fieldwork in China's world of shadow finance to challenge conventional ideas about the political economy of development. Business owners in China, she shows, have mobilized local social and political resources in innovative ways despite the absence of state [...]
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Kellee S. Tsai draws upon her unparalleled fieldwork in China's world of shadow finance to challenge conventional ideas about the political economy of development. Business owners in China, she shows, have mobilized local social and political resources in innovative ways despite the absence of state-directed credit or a well defined system of private property rights. Entrepreneurs and local officials have been able to draw on the uncertainly of formal political and economic institutions to enhance local prosperity.